Bharti Airtel’s wholly owned subsidiary - Airtel Payments Bank will charge 0.65% fee on cash withdrawals. However, the company will not charge any processing fee from its customers and merchants partners for digital transactions effective from January 2017. This step has been taken in order to encourage cashless payments.
Last month, the company had opened over 10,000 savings accounts with it within two days of going live with a pilot project in Rajasthan. It plans to shortly extend its pilot services to Andhra Pradesh, Telangana and Karnataka. The bank is offering interest rate of 7.25% per annum on savings accounts.
Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.
